Independence, Ohio — Valtris Specialty Chemicals of Independence, a portfolio company of private equity firm H.I.G. Capital that was carved out from Ferro Corp. in December 2014, has acquired international specialty chemicals company Akcros Holdings Ltd.
Terms of the deal were not disclosed. Akcros is a provider of specialty chemicals used as additives in the production and processing of polymers, paint and coatings. Valtris and Miami-based H.I.G. said in a news release that Akcros has two primary manufacturing sites, in Eccles, England, and New Brunswick, N.J., with additional production capacity in Mumbai, India, and Guangzhou, China.
The acquisition of Akcros “will provide additional manufacturing capabilities, increased product breadth and a global presence helping Valtris expand as a leading global player in the polymer additives industry,” according to the news release.
Paul Angus, CEO of Valtris, said in the release that Akcros “is a highly strategic and complementary acquisition for us, providing new and multiple avenues for growth. … In addition, Valtris will now be a leading player not only in North America but also in Europe, a major goal of ours.”
H.I.G. is active in the chemical sector; Akcros is the 11th acquisition that H.I.G. has completed in the sector since 2008 and the fourth in the last two years, according to the release.
Valtris, formerly the Polymer Additives division of Ferro, serves industries including building and construction, packaging, consumer goods, transportation and oilfield additives.
